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And so, our job is to first understand what the purpose of that money is, right? We always like to say purpose determines the placement of the money. But we always also address to people that there’s only four things that money can really do for you. Number one, it can provide you with income, number two, it can grow. Number three, it can be saved, or number four, it can be liquid, and you can have access to it.
To see a full schedule of our TV airtimes, please click here. Video Transcript Cynthia de Fazio – 00:20 And welcome to On The money with secure money. My name is Cynthia De Fazio and I’m joined today by Brian Quaranta. He is president and founder of secure money advisors, as well as Neil Major […]
So, you know, between the husband Social Security and the wife Social Security, they were going to be at about $60,000 a year. Okay. And then, but they needed about $80,000 a year to live off of. So that means they needed $20,000 a year in additional income.
Now when you go to pull it out, it’s going to count as income. So, let’s suppose that you need $1,000 A month in income. Let’s suppose that right now you’re in a 20% tax bracket. So, when you pull that $1,000 out, you are not going to get $1,000, you’ve got to pay 20% in taxes on it. So you’re only going to net $800.
So those are the things that you do see what a good plan should be able to address any level of inflation, yes, six and a half 7% inflation wherever the numbers at right now. It is a large jump. But with a good plan, you should be able to absorb that inflation rate, at least temporarily.
And nobody has taken the time to show them how to use the money as a tool. The money is a tool to actually accomplish something in your life called freedom. That’s what it’s designed to do. It’s designed to give you freedom. It’s designed to give you your time back.
